Grain and soy markets were mixed overnight in slow trade. Prices traded both sides of yesterday’s closes but never moved very far from them. However, the day session rather unexpectedly brought on a substantial rally in Chicago and KC wheat. General Comments Contrary to trade expectations, the U.S. Energy Information Administration (EIA) reported that U.S. stocks of crude oil dropped again last week to a seven-month low. This is the fifth consecutive week that they have declined even though the trade expected increases during four of those weeks. It does appear that U.S. crude oil supplies are creeping toward a better balance with demand. In response, NYMEX spot November crude oil edged closer to the psychologically important $50.00 mark...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.